Yes but if you are trying to extract for purity and want your extract to be several million SHU you're going to have to use a volatile solvent. You can't evaporate off fats, which is why you can still spread it on toast. We're talking enough so a single drop placed in melted butter would make the toast practically inedible
Yes, more oils can be dissolved per liter in a butter or oil but some still dissolves in alcohol and other volatile solvents. The benefit of using alcohol is you can dissolve the oils from only a couple superhots in a couple liters of alcohol, then evaporate that off and be left with nothing but the oil. No extra fat, water, or anything really except a few other oraganic molecules that also got dissolved in the alcohol.